Property finance platform, LendInvest, has funded the purchase of a HMO property in four days for an experienced landlord in West London.
The borrower was looking to buy a tenanted HMO, a 10-bedroom house in West London.
Due to the tight timeframe in which the borrower required funding, LendInvest worked fast to facilitate the loan resulting in completion just four days after offer.
The loan size was £451,500 based on an LTV of 70% on a LendInvest buy-to-let two-year fixed rate product.
This was the first completion for Birketts solicitors with the lender following its recent addition to the LendInvest buy-to-let panel.
Lauren Eaton, head of loan operations at LendInvest, said: “The speed at which this case was delivered is a true testament to the perfect combination of the relationship we have with our professional partners, the deep expertise of the LendInvest team and the technology enabled processes that allow us to move quickly, while maintaining quality of funding and service.
“I’m delighted to be announcing this deal delivered in record time as our first completion with Birketts, a confident sign of a team that holds the same approach to fast, flexible lending as we do.“
Shlomo Fink, head of specialist mortgages at DAS Finance, added: “We have had an amazing experience with LendInvest in general and especially with this case. The full team from underwriting, case manager and bank manager were all working to reach the goal and help the client complete on time.”